UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35883 United Parks & Resorts Inc. (Exact name of registrant as specified in its charter) Delaware 27-1220297 (State or other jur ...

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $490.2 million, a decrease of $7.4 million or 1.5% compared to Q2 2024, primarily due to decreases in admissions per capita and in-park per capita spending, partially offset by an increase in attendance [20][21] - Attendance increased by approximately 48,000 guests or 0.8% year-over-year, attributed to a favorable calendar shift, including the shift of Easter and spring break holidays [20][21] - Net income for Q2 2025 was $80.1 million, down from $91.1 million in Q2 2024, and adjusted EBITDA was $206.3 million, a decrease of $11.9 million compared to the previous year [22][23] Business Line Data and Key Metrics Changes - Attendance at all Orlando parks, including SeaWorld Orlando, Aquatic Orlando, and Discovery Cove, saw an increase despite adverse weather conditions [5][6] - The company is experiencing positive forward booking trends in group business and at Discovery Cove, with mid to high single-digit increases expected for the remainder of the year [6][8] Market Data and Key Metrics Changes - The company reported a net total leverage ratio of 3.0 times as of June 30, 2025, with approximately $883 million in total available liquidity, including $194 million in cash [9][23] - Deferred revenue decreased by approximately $22.7 million compared to June 2024, indicating a decline in pass sales [23] Company Strategy and Development Direction - The company has approved a $500 million share repurchase program, reflecting confidence in its business and the belief that shares are undervalued [8][9] - The company is focusing on operational efficiencies and has implemented a cost reduction plan expected to save up to $15 million in the second half of the year [10][25] - Strategic initiatives include enhancing sponsorship opportunities and digital transformation efforts, with a focus on CRM capabilities and mobile app functionality [15][17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the second half of 2025, citing positive trends in group bookings and early ticket sales for upcoming events [28][74] - The company anticipates improved weather conditions compared to the previous year, which should positively impact attendance and revenue [74] Other Important Information - The company is in discussions for potential international partnerships and expects to sign two MOUs by the end of the year [16] - The mobile app has been downloaded over 15.6 million times, with a 35% increase in average transaction value for food and beverage purchases made through the app [17][18] Q&A Session Summary Question: Did the company do anything to drive visitation in light of the Epic opening? - Management acknowledged increased marketing efforts and promotional activities due to weather impacts, which helped drive visitation [34][35] Question: Why is deferred revenue down despite positive forward indicators? - Management explained that a mix of factors, including the type of passes sold and promotional activities, contributed to the decline in deferred revenue [36][38] Question: What are the trends in admissions per capita? - Management noted that while admissions per capita were down, they expect to improve these metrics with better weather and promotional strategies [44][66] Question: Are there signs of consumer spending less? - Management indicated that in-park spending was slightly down but expressed optimism about improving this metric during the upcoming Halloween and Christmas seasons [78] Question: Can the company leverage fall and winter events to boost summer attendance? - Management acknowledged the opportunity to market seasonal passes that include access to popular fall and winter events, potentially driving summer attendance [84]

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $490.2 million, a decrease of $7.4 million or 1.5% compared to Q2 2024, primarily due to decreases in admissions per capita and in-park per capita spending, partially offset by an increase in attendance [19][20] - Attendance increased by approximately 48,000 guests or 0.8% year-over-year, attributed to a favorable calendar shift, including the shift of Easter and spring break holidays [19][20] - Net income for Q2 2025 was $80.1 million, down from $91.1 million in Q2 2024, and adjusted EBITDA was $206.3 million, a decrease of $11.9 million compared to the previous year [21][22] Business Line Data and Key Metrics Changes - Attendance at all Orlando parks, including SeaWorld Orlando, Aquatic Orlando, and Discovery Cove, increased despite adverse weather conditions [5][6] - The company is seeing positive forward booking trends in group business and at Discovery Cove, with mid to high single-digit increases expected for the remainder of the year [6][12] Market Data and Key Metrics Changes - The company reported a net total leverage ratio of 3.0 times as of June 30, 2025, with total available liquidity of approximately $883 million, including $194 million in cash [8][23] - Deferred revenue decreased by approximately $22.7 million compared to June 2024, indicating a decline in pass sales [23] Company Strategy and Development Direction - The company has approved a new $500 million share repurchase program, reflecting confidence in its undervalued shares and strong balance sheet [7][8] - Strategic initiatives include enhancing sponsorship opportunities, digital transformation through CRM and mobile app improvements, and exploring international partnerships [14][15][16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about upcoming events, including Halloween and Christmas, which are expected to drive attendance and revenue [28][66] - The company is focused on improving operational efficiencies and managing costs, with an additional cost reduction plan expected to save up to $15 million in the second half of the year [9][25] Other Important Information - The company has invested $110.5 million in CapEx as of June 30, 2025, with expectations to spend $175 million to $200 million on core CapEx for the year [24][25] - The mobile app has been downloaded over 15.6 million times, showing a 35% increase in average transaction value for food and beverage purchases made through the app compared to point-of-sale orders [15][16] Q&A Session Summary Question: Did the company do anything to drive visitation in Orlando parks? - Management acknowledged increased marketing efforts in response to the opening of Epic Universe and weather impacts, which necessitated promotional strategies [32][34] Question: Why is deferred revenue down despite positive forward indicators? - Management explained that the mix of products and promotional activities impacted deferred revenue, but positive indicators in group bookings and Discovery Cove provide confidence [36][38] Question: What are the trends in consumer spending? - Management noted that in-park spending was slightly down but indicated that there were no significant signs of consumer pullback, with positive indicators in certain parks [48][50] Question: Can the company leverage Halloween and Christmas events to boost summer attendance? - Management confirmed that they are working to promote season passes that include access to Halloween and Christmas events, aiming to drive summer attendance [82][83]

Exhibit 99.1 United Parks & Resorts Inc. Reports Second Quarter and First Six Months 2025 Results ORLANDO, FL, August 7, 2025 - United Parks & Resorts Inc. (NYSE: PRKS), a leading theme park and entertainment company, today reported its financial results for the second quarter and first six months of fiscal year 2025. [1] This earnings release includes Adjusted EBITDA, Covenant Adjusted EBITDA and Free Cash Flow which are financial measures that are not calculated in accordance with Generally Accepted Accou ...

ORLANDO, Fla., Aug. 7, 2025 /PRNewswire/ -- United Parks & Resorts Inc. (NYSE: PRKS), a leading theme park and entertainment company, today reported its financial results for the second quarter and first six months of fiscal year 2025.Second Quarter 2025 Highlights Attendance was 6.2 million guests, an increase of approximately 48 thousand guests or 0.8% from the second quarter of 2024. Total revenue was $490.2 million, a decrease of $7.4 million or 1.5% from the second quarter of 2024. Net income was $80.1 ...

Core Viewpoint - United Parks & Resorts Inc. is set to release its second quarter financial results on August 7, 2025, with a live conference call scheduled for the same day [1]. Group 1: Financial Results Announcement - The company will announce its second quarter financial results before the market opens on August 7, 2025 [1]. - A live conference call will take place at 9 a.m. Eastern Time on the same day, accessible via the company's website [1]. Group 2: Replay Information - For those unable to attend the live call, a replay will be available starting at 12 p.m. Eastern Time on August 7, 2025 [2]. - The replay can be accessed online and via telephone until August 14, 2025, with specific dialing instructions provided for U.S., Canadian, and international callers [2]. Group 3: Company Overview - United Parks & Resorts Inc. is a global theme park and entertainment company with a diverse portfolio, including brands like SeaWorld and Busch Gardens [3]. - The company operates 13 parks across the U.S. and Abu Dhabi, offering various family-friendly experiences and educational wildlife presentations [3]. - United Parks & Resorts is recognized for its commitment to animal welfare and has a history of rescuing over 42,000 animals in need [3].

Core Points - Busch Gardens parks are offering free admission to active-duty military, veterans, and their families as a gesture of gratitude for their service [1][2] - The Waves of Honor program has provided over 10 million complimentary admissions to military families over the past 20 years [3] Group 1: Offers and Eligibility - U.S. military veterans can register for free one-day admission for themselves and up to three guests until June 22, with visits allowed until July 6 [2][4] - Active-duty military personnel can enjoy complimentary admission for themselves and three guests year-round, plus receive three additional free tickets for dependents until July 6 [5] Group 2: Company Background - Busch Gardens Tampa Bay features 300 acres of attractions, including a zoo with over 16,000 animals and various seasonal events [6] - Busch Gardens Williamsburg offers a European-themed adventure park with over 100 acres of rides and attractions [7]

Core Points - SeaWorld parks are offering free admission to active-duty military members, veterans, and their families in honor of Independence Day [1][2] - The Waves of Honor program has provided complimentary park access to over 10 million military guests over the past 20 years [2] - Eligible military veterans and retirees can register for complimentary tickets for themselves and up to three dependents before June 22 [3] - Active-duty military personnel can receive one complimentary admission for themselves and up to three dependents per year, plus three additional free tickets for dependents until July 6 [4] Company Overview - SeaWorld is a leading marine life theme park and accredited zoo and aquarium, focusing on education and conservation [5] - The parks offer a variety of experiences, including animal encounters, educational programs, and marine-life themed attractions [5] - SeaWorld has rescued over 42,000 animals and has contributed more than $20 million to conservation efforts through its foundation [5] - The company operates parks in Orlando, San Antonio, San Diego, and Abu Dhabi, UAE, and is part of the United Parks & Resorts portfolio [5]

Core Insights - SeaWorld Orlando will be the only location in the Western Hemisphere to showcase Emperor penguins starting June 14, 2025, marking a significant event for the park and its visitors [1][3] - The park has made extensive upgrades to its Antarctica Realm to accommodate the Emperor penguins, including temperature adjustments to around 28°F and mimicking Antarctic light cycles [3] - SeaWorld Orlando is committed to penguin care and conservation, continuing its legacy in this area while providing unique guest experiences [4][10] Company Initiatives - SeaWorld Annual Pass Members will have exclusive early access to the Emperor penguin habitat on June 12 and 13, allowing them a first look at the species [2][11] - To celebrate the arrival of the Emperor penguins, SeaWorld Orlando has partnered with Creative City Project to create a temporary art installation called "Big City Penguins," featuring three large Emperor penguins displayed in Downtown Orlando until June 19 [4] Conservation Efforts - SeaWorld has a long history of successful Emperor penguin care and breeding, with over 20 individuals hatched and raised at SeaWorld San Diego since 1980 [8] - The Emperor penguin is currently listed as Near Threatened by the International Union for Conservation of Nature (IUCN), highlighting the importance of conservation efforts [9] - SeaWorld has contributed over $20 million to nearly 1,400 organizations for marine life research and conservation since establishing the SeaWorld Conservation Fund in 2003 [12]

United Parks and Resorts (NYSE: PRKS ) is without a doubt my highest conviction investment at this time. In early 2024, the company, previously known as SeaWorld Entertainment, changed its name to United Parks and Resorts. For simplicity, I will refer toBackground in corporate finance at multiple Fortune 200 companies including real-estate, media, and banking. Believe strongly in detailed analysis of company balance sheets and income statements, going into deeper detail than the average investor. Look to id ...